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Who is an accredited financial investigator? An accredited financial investigator (AFI) for the purposes of Proceeds of Crime Act 2002 (POCA 2002) is a financial investigator who is trained and accredited pursuant to POCA 2002, s 3. In addition, POCA 2002, s 453 empowers the Secretary of State, through secondary legislation, to designate an investigator who falls within a specified description as an AFI. The purpose of this order-making power is to enable the Secretary of State to limit the use of restraint and investigation powers to those financial investigators who are employed or engaged by law enforcement authorities or are employed or engaged in a law enforcement capacity by Government departments. The Proceeds of Crime Act 2002 (References to Financial Investigators) (England and Wales and Northern Ireland) Order 2021, SI 2021/640 was issued under this section and states: ‘A reference to an accredited financial investigator in a provision of the 2002 Act specified in column 1 of each table in Schedule 1 is a reference to an accredited financial investigator

Accretion describes a lawful increase that attaches automatically to property or to a beneficiary’s entitlement, without a separate transfer.In property law, land gained gradually and imperceptibly by natural forces along watercourses or the foreshore accrues to the riparian or coastal owner. The legal boundary moves with gradual accretion but not with sudden change (avulsion). Across England and Wales, Northern Ireland and Ireland this is a common-law rule; in Scots law the phenomenon is called alluvion, with broadly equivalent effect. Registration may require evidence and an application to amend the title plan or cadastral map.In succession and trusts, accretion denotes the increase of one beneficiary’s share when another gift fails, lapses or is disclaimed, typically among joint tenants or among residuary beneficiaries, unless the instrument shows a contrary intention or statutory anti-lapse applies (for example, Wills Act 1837, s.33; Succession Act 1965 (Ireland), s.98). Specific legacies to tenants in common usually do not accrete; the failed share falls into residue or on intestacy.In Scots conveyancing, accretion also describes after-acquired title “feeding” an earlier disposition by a non-owner, becoming effective when the granter later acquires title; the English and Northern Irish analogue is the doctrine of feeding the estoppel.

The system under which benefits are earned year-by-year in a pension scheme.

Dispute Resolution analysis: The High Court held that Tangent’s alternative unjust enrichment claim was barred by section 5 of the Limitation Act 1980. The court allowed Tangent to rely on failure of basis despite deficiencies in its pleading, but held that the claim accrued when it became objectively clear that the anticipated profit-share contract would not be concluded, not when development profits might later be realised. On the facts, the relevant point had been reached 8 April 2016 and the proceedings issued on 13 February 2024 were out of time. The judgment is significant on when time may start to run in unjust enrichment claims concerning professional or commercial services supplied in anticipation of a contract.

A security backed by the revenue from mortgages.

An accrual method of accounting records income and expenses when they are earned or incurred, not when cash is actually received or paid. In legal practice it underpins financial statements used in company law, commercial contracts, insolvency, tax, banking, and litigation involving loss or valuation.Across the UK and Ireland, accruals accounting is required for most companies under company law and accounting standards (for example, UK-adopted IFRS or FRS 102 in the UK, and corresponding standards in Ireland), and is the default basis for statutory accounts filed with Companies House or the Companies Registration Office.In tax law, the concept is reflected in provisions requiring trading profits to be calculated on an “earnings basis” or in accordance with “generally accepted accounting practice” (GAAP), subject to specific tax adjustments. The term itself is not generally exhaustively defined in primary legislation, but is embedded through references to GAAP and accounting standards and is explained in HMRC and Irish Revenue guidance.Usage and meaning are broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland, making the accrual method the standard benchmark for assessing profit, loss and solvency in most legal and transactional contexts.

Level at which benefits build up for each year of pensionable service in a defined benefit scheme.

The benefits for service up to a given time, and which may or may not be vested or preserved. They can be calculated in relation to current earnings or projected earnings, and indexed or not.

Interest which has accumulated since the most recent coupon payment date on a bond or other fixed-interest security.

The benefits to which a member is entitled, as of right, under an occupational pension scheme.

Accumulated earnings describes the profits a company has generated and kept in the business over time rather than distributing them, typically shown within equity as retained earnings or the profit and loss reserve. It is a descriptive accounting expression, not a defined statutory term. For legal purposes on distributions, UK Companies Act 2006 and Irish Companies Act 2014 focus on “accumulated, realised profits” less “accumulated, realised losses” in the relevant accounts.Key features and use:- Basis for assessing whether a company has positive distributable reserves to lawfully declare dividends, make distributions, fund a share buy-back or redemption, or re-register/share redeem.- Calculated by reference to the individual company’s accounts (not consolidated), after tax, adjusted for prior losses, dividends already paid, and transfers to/from reserves.- Only realised profits count for distributions; unrealised gains (for example, certain fair value movements under IFRS/FRS 102) are excluded.- Directors and auditors test amount and legality of proposed distributions against these figures to avoid an unlawful distribution.Usage and legal effect are broadly consistent across England & Wales, Scotland and Northern Ireland (Companies Act 2006, s.830) and Ireland (Companies Act 2014, Part 6), though exact accounting treatments follow applicable UK-Irish GAAP/IFRS.